Note: We use AI transcription so there may be some inaccuracies
Anne-Lyse Wealth: This is the Dreamers Podcast, episode 1 0 1. Today is December 20th, 2022.
Natalie Bullen: I think what people really need to start with is accepting that we all have a money story, Every single one of us believes something about money. We were raised money doesn't grow on trees.
Money's everywhere. Money is easy. Money is hard. Identify your money story.
Anne-Lyse Wealth: Hello. Welcome to the Dreamers podcast. I'm your host Ane Wealth. Thank you for tuning in to today's episode of the Dreamers podcast. I cannot believe. Today is December 20th, in that we are literally 11 days away from the end of 2022.
It sounds absolutely crazy to me because I feel like the year just started literally two seconds ago, but for me, it is just a reminder that. Time flies and we cannot afford to waste time. In today's episode, we'll touch on five tips to help you elevate your mindset and your wealth in 2023 and beyond.
And it is a special episode. It is a medley of some of the best tips from Tanya Rapley Terry Ima Ja descent, wmal. Natalie Bullen and Patrice Washington, my team and I really wanted to capture some of the amazing gems that have been shared on, the podcast when it comes to what you can do to elevate your mindset and your wealth.
And I cannot wait to get into today's episode. So here it.
Patrice Washington: how has
Anne-Lyse Wealth: paying for peace impacted your finances?
Patrice Washington: Oh, my finances are probably quadrupled. Hmm. I love it. Because yeah, I was just gonna say, when I am paying for peace in one area of my life, right? So let's take my housekeeper for example. She comes three days a week. She comes Monday, Wednesdays, and Saturday.
So she works like half days, maybe four hours, four to five hours, and she batches her tasks right? On Wednesday she does laundry. If I did laundry, first of all, no way I would get it done in four to five hours. It would definitely be a eight to nine hour ministry. Right? Cause I already don't wanna do it.
it's gonna take me forever to fold. I'm gonna be arguing with my daughter about how she folds, cuz she's not helpful when folding clothes. Then it's putting it up. There's like all this stuff, well, in eight or nine hours based on my. There's a lot of things that I could get done. Those are podcast episodes that could be recorded.
Those are speaking opportunities that I might have. That's time that I can spend. Thinking through how we're gonna get more people in our next launch, in our next program. That's time that I may be talking to my agent about brand partnerships. I would like us to go over, so the investment of having Miss Jenny do the laundry on Wednesdays, that allows me to now have the time and space and energy and creativity to think through my money making tasks.
If I was doing laundry, my husband's not paying me to do laundry news slash I'm not getting anything for it. he not paying, not me, . Right? So instead of using that time in that way, me being able to redirect my focus to things that I know I can do to create more income. There's no comparison.
There's absolutely no comparison paying Ms. Jenny 150 bucks for the day versus me being able to do something that could create $15,000. Where's the comparison? And that didn't start. Now I was doing that even when we didn't have the money. For you to
Anne-Lyse Wealth: expand on that, because I remember that you shared some tips and tricks that you used when you didn't have the
Patrice Washington: financial resources.
Yep. When I didn't have the money that I have now. I even bartered with Miss Angela. Miss Angela used to help us take care of Reagan back in the day. And we had a spare bedroom and she needed room and board. We bought a little car that she could use to do her other gig, but also to pick Reagan up and go back and forth to school and Miss Angela would cook and stuff.
But we were really bartering for room and board. She lived with us. She was a teacher at one of Reagan's old school. She was like in a teacher's eight or something like that. And we just loved her. Reagan just loved her to piece it. She was like her Atlanta grandma, we were able to barter with her and Miss Angela helping with Reagan allowed me to write my first.
Had Miss Angela not been there all the hours that I didn't have to worry about picking Reagan up from school because I could go to Starbucks and just sit there and really get the words out and work through it. Having Miss Angela and having that support helped me write the first book, which was the catalyst for so many.
I mean, now I'm on my fifth book, so it was a catalyst for so much that would come, but it was like, how do. that level of support. I didn't have the money, but I was able to barter at that time. That was like 2011. I was able to barter. I remember when I first came to Atlanta, I bartered with a young lady.
She needed help with the books and stuff for her salon. And so I was like, well, cuz I didn't have money for hair and nails. She had a full service salon so you could get your hair done, nails done, eyebrows, wax, all this stuff. I think lashes, I was getting everyth. I was bartering with her, okay, I need these services.
So getting those services allowed me to keep myself kept up so that I could go out and network and meet people. That was like 2010. So I was able to use one of the things I was gifted in and skilled in. I bartered with her, and I did that for probably 10 months or so, but for 10. I had my hair done. Now financially, I had no money to be getting hair, nails, eyebrows, lashes, but I looked like I had it, but I was bartering with her.
And I just think that, I mean, that was bartering, but getting in the mindset that I'm willing to pay for peace or to use my gifts and skills to like, Get what I need in order to move what I wanna do forward is also for me, it was a wealthy habit. It it's a wealthy habit to think that way.
Cause I think a lot of us think in terms of scarcity, so we make it about what I can't do. Mm-hmm . And as long as you talk about what you can't do, you're not gonna do it. You're not gonna think through a way to make it happen. I love all of this. I think,
Anne-Lyse Wealth: you a lot of times we approach life from a place of lack.
I don't have enough money to do this. Not necessarily thinking. Hey, I can actually take this time to go learn more, or I have resources. I can be creative and figure out a way to get that done. And I just love, love, love this.
how can we shift our beliefs? or how can we let go of those beliefs about money that don't.
Natalie Bullen: Yeah, that's a great question. So I think what people really need to start with is accepting that we all have a money story, Every single one of us believes something about money. We were raised money doesn't grow on trees.
Money's everywhere. Money is easy. Money is hard. Identify your money story. My money story is Iran. It was that hard work paid off. I come from a school of hard workers. Okay. Coming into the community. Very common. My grandpa was the hard worker. My mother is a hard worker. She's in her seventies, still working much to my chagrin.
Okay. So I was taught if as long as you just keep working and they put the in it right here, the idle hands and guideline is the devil's workshop. The whole. I think that you should work to stay busy, to have purpose if you like, but working doesn't create wealth. So identify your money story. You need to understand where that story comes from.
Don't blame your parents, but understand it's your parent's story. It's your husband's story. It's grandparents. It's not yours. You didn't write it. You're not married to it. And then you need to start disproving it. So for me, I had to work. For me, I had to meet millionaires who barely worked at all. Like I started to actively seek out people who had wealth without hard work.
I had to disprove my story because until I just proved, I'm an intelligent person, you are. Black women are the most educated group of people in the United States where we're the most educated demographic. You can't just tell a black woman data point like that, and just walk off, you got to add some fruit.
So I tell them, disprove your story, whatever you believe. Start actively finding people who make that store untrue. Then you got a big hurdle. You need to disassociate yourself. We're from your next. That one is powerful. You got to stop with this. I'm a banker, I'm a lawyer. I'm a CPA CFP, a B, C, D E F G. We string all of these letters behind our to give ourselves purpose.
You got to disassociate your self-worth from your network, your degrees, your marital status, the money, your bank account, all that. You have value as a person, as a child of God, if you are able to leave her, you have period. Well, there's someone buys from me or not. Whether someone listens to this episode of this podcast or not.
What if somebody likes me on Facebook or not? I have valid. if I can recognize that, then I can detach myself from these frivolous outcomes that keep me trapped in this money store. I was trapped in the hard work money story because to me, my self worth was attached to my job title. It was attached to my work ethic.
People thinking I was a hard worker, was important to me. I used to tell him how many hours I work. I was proud I was burnt out, but I was proud. I was arrogant about my hard work. I called people late. No, I'm the lazy one. I don't want to work at all. I want to put $10 million in the stock market and never, ever clock in again.
But that's a shift. And that only happened when I started meeting wealthy people. And once you've done all this, you can choose a new story and. So now my new story is that I can become wealth with flow wealthy with flow and ease. I can become wealthy working 10 hours a week. If I want her zero hours a week.
If I want like the amount of, coaching clients, the amount of work, the amount of hours is negligent to the dollar amount I want to have. And so at that point it's easy. And then you just need to commit to making the changes. Small changes. Like my calendar, one of this is necessary. What of this do I have to do?
And what of this am I doing? Because of my hard work. And forgive myself living so long in that wrong mind state. So some inner work that has to happen, but it can be done. Anyone can rewrite their money story.
Tonya Rapley: We just purchased our first investment property. One of my goals is to build a real estate portfolio that my son can inherit, but that also leads to us generating passive income so that I can create even more time. And flexibility to give myself even more options. So that's one thing. I mean, investing in the market, investing in my son's stock portfolio.
Actually that reminds me this morning I need to buy him some more stocks. I try to buy at least two $50 each week. So purchasing and adding money to my son's portfolio, his 5 29. Just really understanding the importance of delayed gratification and balancing that with immediate gratification and making decisions that allow our money to grow, not spending everything that I have available to me and investing in assets have allowed my money to.
Can you share about your first real estate experience, while at least
Tonya Rapley: as an investor, we did a burr method. So Burr is buy, renovate, refinance, and then repeat, which means that you buy a house that needs some work, you renovate it to force appreciation, which means to drive up the home value, and then you rent it out.
For me, it's rent. Some people style it for me, it's rent, so that I can hold it as an asset and generate passive income from it, a cash flow from it, and then repeat the process, find another one and do it again. So we're also in the process of looking for our next property that we will purchase. We'll probably purchase two more in the coming month.
But the process, I really wish I would've started sooner. The thing that I think has been most valuable is I found a mentor, one of my mentors, Erica Brown, she is based here in Atlanta. She's done it several times. I think that in business, I released the limitations, but I think in real estate always had these preconceptions and she helped me bust through all those myths.
I was like, I gotta have 20% to buy my first investment property. Boom. No, you don't. Not if you get a hard money lender. I gotta do this, I gotta do that. I gotta do this. The deal went so. We talked to her. We visited the place on November 12th. We put a offer in November 22nd. We were closing by December 13th and now even in renovation.
So I'm learning a lot of things in that. I probably will do a video on things that I have learned because I've been learning a lot, but I wish I would've started to learn. So what's the biggest thing you learn in this process? Your team is so important. Your team going from your lenders, your real estate agent to help make sure that you're getting a deal, to make sure the numbers work, helping you assess properties.
And I would say one of the biggest things is having an understanding of how much work is going to cost. Right now we're about $15,000 over budget and we had it, and it's also because I'm a little picky, so I want a new trip on the house and I was like, we can't put them in there with those windows and we gotta paint the outside.
So I'm a little picky when it comes to the house and those are things that were extra, but it really is know your. Study YouTube videos. Know your numbers. I have a good understanding of how much work is gonna go into a property. Cause you make money on the front of the deal. Basically, if you buy the house at a good price, then you'll make money.
But if you buy the house at a loss, then it's gonna take you longer to recoup that. If you're gonna hold it as an investor, as a buy and hold.
Anne-Lyse Wealth: So you have transformed your finances over the past decade. For anyone who might be like Tanya, seven, eight years ago, do you have any advice or maybe like steps that they can take to get started and transform their own finances?
Tonya Rapley: A lot can happen and I'm a testament to that. Start with that one thing you feel like is preventing you going to your next level. For me, that one thing was credit because once I started to understand credit, I was able to build discipline in other areas, which allowed me to create discipline around my budget.
It allowed me to create discipline around my savings, but I didn't require myself to become a budgeting expert. Or a savings expert. When I got started, I focused on one thing and then I built on that foundation from that one thing. So I would say, think about what your most immediate goal is, what you wanna accomplish this year.
Focus on that. Learn what you need to accomplish that. Get that wind under your belt, build your confidence, and then move to the next thing.
Anne-Lyse Wealth: how does one identify their trauma when it comes to their financial
Jacent Wamala: trauma? I think it really comes down to the quickest thing that comes to my mind is if you were to look at your bank account, what are some of the initial things that come to mind?
Is it tough for you to even look at your bank account? Some people don't even want to check on what's going on with their money cuz they're money, avoid. And some people are money obsessive. So doing an inventory on what comes up for you mentally and emotionally, sometimes even physically, people have responses when dealing with money.
When you think about spending money, what comes up for you when you think about spending money? Are you like, Oh no, this is a bad idea. Maybe I shouldn't do this. Maybe I should. Like if you're questioning yourself and going back and forth, those are indicators of something. Cuz again, trauma is difficult, distressing life experiences, if it is causing you stress in any way, shape and form, that's an indicator of something that needs to be invest.
It gated and looked at. And then you can also, someone wants a formalized assessment. There's people who are certified financial therapists, and you can also, if you wanna do your Google Life and WebMD yourself, diagnose yourself with with financial trauma, go ahead. But yeah, you could easily also go online and you would be able to see if you looked at financial trauma, it'll actually give you some indicators as far as what qualifies.
Are there
Anne-Lyse Wealth: any tricks that you use with your. To help them once they've identified their trauma, actually deal with it so that they can get in the mindset to build wealth as opposed to just continue to be stressed.
Jacent Wamala: Yeah. So I love being able to break things down into the smallest, most bite sized pieces, just because I feel like so many people feel overwhelmed that that's why they back up or they turn the other direction they run, they.
So breaking it down to the smallest possible thing is one of the tricks and tips that I use with my clients. So that's why oftentimes on my Instagram page or whatnot, what to me seems like, for lack of a better word, a very simple breakdown is amazing to someone else. Cause they just never thought to do it that way.
So if it's like you wanna save a thousand dollars in 30 days, Just divide that by the month. You can save a thousand dollars. You can save $500 twice in the month. You can save two 50 a week. And then people are like, what? That's amazing. Just break it down y'all. And you can break it down to the day and realize, oh, it's not that much money.
When I think about it, I spend that much at Starbucks. I spend that much at Target, I spend that much at Chick-fil-A. I could send that to my savings or whatever the case may be. So I use a combination of just breaking things down psychologically for them to be. Palatable and doable for somebody as opposed to being overwhelmed.
And then the other thing that we do is really teach them how to essentially talk to themselves. It sounds weird, but , there was a guy, I was listening to a book, I think, and he said, I talked to myself more than I listened to myself, and he had done many Iron Mans and all that fun stuff. Some crazy physical.
And it makes so much sense because if we just listen to the chatter that's going on in our heads, we have I think almost like 80, 90,000 thoughts a day. And those thoughts are typically the same negative thoughts from the day before, from the decade before, from childhood. So if we just sit around and continue to listen to the tape that's already playing, Guess what?
We're gonna be recreating the same reality that we've been experiencing. But if we can start getting engaged in that conversation, then we can start reprogramming replacing and removing some of the thoughts that don't serve us in this season.
Anne-Lyse Wealth: when you. Investing, right? There's always the risk of losing your investment. For people who are maybe interested in picking up trading as, I don't know, side hustle, how do they go about making sure that they don't lose everything they have?
Teri Ijeoma: There are a couple tips that I'll give here. So one, in order not to lose everything that you. One first step is to trade in a simulator with fake money. One of the things I see people do is they have no idea what they're doing, but they just throw money into a brokerage account and they're like, I'm gonna figure it out.
Lo and behold, they don't know what they're doing and they start losing money. But you can do that in a simulated account with fake money. And there's several different platforms that have. There's one called Trading View. There's one called Rapunzel. It's an app. A lot of high school students use Rapunzel.
They have a competition that gives you money for college. Um, you could use, I think TD Ameritrade has a simulator, so just Google what brokers have Simulated accounts where I can practice without having to use my real money. So that's step one. Use a simulator. Step two is these risk management steps that I've been telling you about.
So learning about a stop-loss order that could get you out of the trade. Learning about your quantity. Size. Even learning the education on the front end of when's the best time to get in and out of a stock. That's that charting I was talking about. So your education is probably step two. When you become more educated, you'll learn more about these risk management tools and charting tools, and that too will help you not lose as much.
There's gonna be sometimes, like I said, it's investing, so you gotta know. There's always a risk with investing, but the goal is for your wins to be at least three times your
Anne-Lyse Wealth: losses.
You said 10 or 11 years you've been trading. You know I was listening. An interview that you did on the Journey to Launch podcast and you were able to become financially and independent in the process?
Teri Ijeoma: Yes. My assistant principal income, it was about 60,000 and at the end of the year, we would get a bonus if our school did well.
So it really only added up to about $200 a day. And for me, I wanted a little cushion, so I said if I could just make $300 a day trading. Then I can replace my income. So that was my original goal. All I needed was $300 a day and I could leave and I started working myself up. I actually used some old 401k money from other jobs.
I put that into a self-directed IRA account, and I started practicing with that money. Okay, Terry. Let's do this. Like first I was like, I said, you're not good right away. So at first I was just trying to be positive, like let me just not lose. Then I said, okay, a hundred dollars a day, 200, 300. And I was able to consistently work myself up to $300 a day on a consistent basis.
Cuz sometimes you have some win, sometimes you have a loss. So averaging about $300 a day. I made it. I was able to quit, replace my whole assistant principal.
Anne-Lyse Wealth: And now you are educating others how to trade. I saw something. You wanna teach people how to make a thousand dollars a day trading. Can you talk maybe a little bit about some of the traits that the people who are able to have thousand dollars days on a regular basis, what is it that they do better than the others?
Teri Ijeoma: Yes. Oh my gosh. Our ki uh, I said our kids, I've been too long, but my students who are actually adults, like I'm teaching people from 18 years old to 68 years old, some of the things that makes those students successful is one, sticking to that seven step strategy. Whenever a student does well, and I kinda ask them, well, what do you think led to your success?
They're like, Terry, I just did what you told me to do. . I picked the right companies. I looked at the charts, got in at the right time, took some profit, like I did it, and they're so excited. I do think that it takes discipline, though. If you're asking like, well, what makes them more successful than others?
Discipline, being able to. Really control your emotions. Um, being able to not be greedy. That's a big thing that comes up in trading. You'll see it going, it's made its thousand dollars in a day, but the only way to actually make the profit is you have to sell. And being able to sell the stock at the right time to actually bring in that income.
It's important.
Anne-Lyse Wealth: There you go. Five tips to elevate your money and your wealth in 2023 and beyond. I hope you enjoy today's episode, and I cannot wait to see you back here next week for the last episode of 2020.
Wishing you a very happy holiday season. I hope you get to spend time with loved ones. If the holidays are a difficult time for you, I'm sending you my best wishes. See you next week for the last episode of the year.